Ep. 713 The Untold Story Behind Crypto ETFs and the Next Wave of Adoption

CRYPTO 101

Bryce Paul & Brendan Viehman

Business News, Business, Tech News, Investing, News

4.3 • 841 Ratings

🗓️ 21 March 2026

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ophelia Snyder, co-founder of 21Shares, explains how crypto ETFs were built to solve a major accessibility problem—making crypto investable through traditional financial systems. She highlights how early infrastructure challenges required building everything from scratch, while today’s growth is the result of years of groundwork and institutional alignment. The conversation emphasizes that institutional adoption is still in its early stages, with access improving but full integration into portfolios just beginning. Ophelia ultimately argues that the future of crypto lies in seamless, invisible infrastructure where users interact with blockchain technology without even realizing it.

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Chapters

00:00 — Intro: Ophelia Snyder and the $B+ 21Shares exit to FalconX.

02:20 — Origin story: solving crypto’s accessibility problem for everyday investors.

06:53 — Early days: building ETF infrastructure from scratch with no support.

10:12 — Regulatory progress took years of groundwork behind the scenes.

12:11 — Institutional adoption is real—but still in its earliest phase.

15:03 — The end goal: users interacting with crypto without knowing it.

18:46 — ETFs connect crypto to traditional markets and capital flows.

20:56 — Why Bitcoin now reacts to macro trends like AI and interest rates.

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Transcript

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0:00.0	All right, everyone, we are joined by Ophelia Snyder.
0:11.2	She is a co-founder of 21 shares, which is an ETP platform, and one of the CryptoSpot
0:17.1	ETF providers.
0:18.1	They're also a multi-billion dollar asset manager in the space.
0:21.6	Afilia, welcome, and it's good to have you.
0:24.6	Things start driving me.
0:26.6	Yeah, this is an interesting one. Most of the people out there are familiar with the explosive growth that all of these different crypto ETPs and ETFs have had.
0:36.6	And 21 shares is one of the leading groups behind it.
0:41.6	And in regards to that, I mean, you just had probably some of the most significant
0:46.1	headline news ever.
0:49.2	You just had, I believe it was the largest exit of any woman in history.
0:54.3	And you're just coming off of that, right?
0:57.3	Yeah, the sale of 21 shares to Falcon X was the largest exit by a female founder in
1:04.1	crypto.
1:05.0	So it's quite a big moment.
1:06.6	First and foremost, congratulations.
1:09.4	I hope you have a fantastic trip planned afterwards. I'm not even
1:13.6	sure there's a kind of vacation that could match that energy. But hopefully you're scheming and
1:18.3	planning and you're going to pay yourself back a little bit for something like that, right?
1:23.8	Yeah, it was, so I spent seven years building that business with one of my best friends.
1:29.7	It was fantastic.
1:31.0	And now taking so much deserved rest and also spending a lot of time digging into some pretty esoteric parts of crypto.
	...

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